Several private equity firms reportedly are considering making an offer to acquire PRA International, the pharmaceutical services companies that recently disclosed that it is looking at going public.
Reuters, citing several people familiar with the situation, reported that private equity firms KKR, Warburg Pincus and Cinven are contemplating offers for the Raleigh-based company.
Reuters also reported that PRA could be worth as much as $1.3 billion.
PRA, which is owned by San Francisco private equity firm Genstar, is a contract research organization that helps pharmaceutical and biotechnology companies test experimental drugs. It has about 450 employees in Raleigh and more than 5,000 worldwide.
Last month PRA announced that it had made a confidential filing with the Securities and Exchange Commission regarding a possible initial public offering of stock. The company said it hadn't yet determined the number of shares it hoped to sell or the price range for those shares.
Choosing to announce its confidential filing -- which companies aren't required to do -- raised questions about whether the company was seeking to flush out a buyer for the business.
Genstar reportedly tried to sell the business for $1 billion in 2011, but no deal ever materialized.